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LCX price prediction: What is LCX?

10:00, 13 August 2022

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LCX is a token linked to the eponymous crypto exchange - Credit: lcx.com

The LCX crypto exchange offers users a variety of services but. So what is LCX? 

Let’s see what we can find out and also investigate some of the LCX price predictions out there as of 11 August 2022, too. 

What is LCX?

If a cryptocurrency is to mean anything, it needs to have a value. And the way that it gets that value is through being bought, sold, and traded. The most usual place for that to happen is on a cryptocurrency exchange. There are, fundamentally, two sorts of crypto exchanges. 

Decentralised exchanges (DEXes) are run by communities and allow people to trade (usually) limite, amounts of whichever token they can list. Centralised exchanges (CEXes) allow for larger trades of more limited cryptos and are bigger than DEXs. They are run by individual companies and also usually make use of Know Your Customer (KYC) programs as a way to prevent fraud and money laundering. They are also usually much easier to use, at least for people just dipping their feet into crypto. 

One of many centralised crypto exchanges is the Liechtenstein Cryptoassets Exchange, or LCX for short. While the company behind LCX was founded in 2018, the exchange did not come live until 2020. It was founded by Monty Metzger, a digital entrepreneur based, unsurprisingly, in Liechtenstein with an investment background who also serves as the platform’s CEO.  

However, the LCX organisation is not just responsible for the crypto exchange. As well as that, it offers five other features. There is the LCX Terminal, which is a multi-exchange cryptocurrency platform that allows users to link up to 16 exchanges on a single interface, thus allowing traders to, at least in theory, get the best deals for their crypto. There is also the LCX Token Sale Manager. This lets people create their own cryptos, as well letting token founders get investors on board, allowing people to develop relevant smart contracts, as well as offering regulatory assistance, such as Know Your Customer (KYC) facilities. 

The STO launchpad allows for the issuance of tokenised securities, while the LCX Smart Order platform is a routing system for trading cryptocurrency in real time. It features algorithms designed to find the optimal price for digital assets by seeking out the best bid-and-ask prices on centralised exchanges, as well as offering arbitrage trading opportunities. There is also a mobile app, so people do not have to use their computers to get involved.

Every blockchain-based platform needs to have its own native crypto token, and LCX has the conveniently-named LCX token. This is a utility token, which means that it is used to pay trading fees, as well as subscription charges, custodian fees and processing fees. Holders also get a range of bonuses, such as discounts on exchange fees. 

The LCX token was launched in March 2019 in a token generation event. According to the whitepaper: “The LCX Company Reserve​ has a lockup of three years until June 1st 2023. The LCX Team Tokens are vested over a period of 36 months on a monthly basis. LCX Tokens held by advisers are also vesting on a monthly basis over a period of 36 months. The initial total supply of LCX Token was 1 billion tokens. LCX has conducted five token burns during 2019 and 2020, burning a total of 50 million tokens. Now, the large majority of LCX Tokens are held by the community.” 

Because LCX is based on the Ethereum blockchain, that means that it is a token rather than a coin. You may hear references to things like an LCX coin price prediction but, strictly speaking, these are not accurate. 

LCX price history

LCX to USD Chart

Before we look at LCX’s price history, while past performance should never be taken as any sort of indicator of future results, knowing how the token has behaved in the past can give us some much needed context when it comes to either interpreting an LCX price prediction or making one of our own. 

LCX first came on to the open market in late 2019, and traded at an all-time low of $0.00007085 on 26 November that year. According to data from CoinMarketCap, LCX broke through the cent barrier in May the following year, but it was not until early 2021 that things really started to pick up. At this time, the market went through a boom period, caused in part by American Covid-19 stimulus checks reaching the cryptosphere. LCX responded well, reaching above $0.10 in late March, before the Great Crypto Day Crash of 19 May 2021 led to stagnation.

XRP/USD

0.49 Price
+1.740% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

BTC/USD

19,506.95 Price
-0.160% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

US100

11,181.40 Price
+0.150% 1D Chg, %
Long position overnight fee -0.0141%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 1.5

Natural Gas

6.95 Price
-0.170% 1D Chg, %
Long position overnight fee -0.1297%
Short position overnight fee 0.0928%
Overnight fee time 21:00 (UTC)
Spread 0.005

Towards the end of the year, the news that bitcoin (BTC) had reached new heights triggered a growth in the LCX token price, and it traded at an all-time high of $0.7048 on 16 November. The market then contracted because of concerns about the Omicron variant of Covid-19 and the token closed the year at $0.1752.

There has been an overall downturn in the crypto market in 2022 so far and LCX has suffered along with other tokens and coins. In January, the news that hackers had stolen nearly $8m in funds from an LCX hot wallet led the token to dip below the $0.10 mark. There was some recovery after that, with the token reaching a high of $0.1679 on 25 March.

In May, however, the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency caused a market plunge, and LCX sank to $0.04922. Although there was some recovery, with the token reaching a high of $0.101 on 10 June, the news that the Celsius crypto lending platform had cancelled withdrawals on its network confirmed a crypto bear market, causing LCX to drop to a low of $0.05157 on 18 June. Since then there has been some recovery and, on 12 August 2022, the token was worth about $0.0765. 

At that time, there were, according to CoinMarketCap, almost 768 million LCX in circulation out of a total supply of 950 million. This gave the token a market capitalisation of around $58.7m, making it the 382nd largest cryptocurrency by that metric. 

LCX price predictions

Let us now look at some of the LCX price predictions that were being made on 12 August 2022. It is important to note that price forecasts, especially when it comes to something as potentially volatile as cryptocurrency, are very often wrong. Also, long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.

At the time of writing, CoinsKid made an LCX crypto price prediction that said the token could close 2022 at $0.0951 before reaching $0.1135 in August 2023. A year from then, the site said LCX had the potential to reach $0.2017, while it then went on to make an LCX price prediction for 2025 that said that the token could start the year at $0.232, before potentially reaching $0.3506 in August and possibly reaching $0.4117 in December. The site also argued that LCX could trade at $0.4729 in August 2026 before possibly dropping to $0.3957 in November. 

Next, on 12 August 2022, PricePrediction suggested that LCX could reach $0.072 in 2022, $0.10 in 2023 and $0.16 in 2024. By 2025, the site said, the token could possibly trade at $0.23, before potentially reaching $0.33 in 2026 and $0.49 in 2027. The forecast then went on to argue that LCX could reach $0.69 in 2028 before possibly closing the decade at around $1.01. The site made an LCX price prediction for 2030 that saw the token worth about $1.45 before going to $2.10 in 2031.

CoinArbitrageBot had a very bullish LCX price prediction for 2022. The site said that the token could reach $0.13781 this year before potentially moving to $0.24527 in 2023. By 2024, the site said, LCX could be trading at $0.39685, before being worth $0.6421 in 2025. 

Finally, on 12 August 2022, WalletInvestor was far more bearish in making an LCX token price prediction. The site said it thought that the token could drop considerably over the course of the next year or so, falling to $0.0271 by August 2023. 

When considering an LCX token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. Because of this, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.

FAQs

How many LCX are there?

On 12 August 2022, there were 767,822,119.33 LCX in circulation out of a total supply of 950 million.

Is LCX a good investment?

LCX is a token linked to one of the many centralised crypto exchanges. Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. Investors should be prepared to make losses and never purchase more than they can afford to lose.

Will LCX go up?

At the time of writing, the forecast for LCX was mixed. For instance, PricePrediction said that it will go up, but WalletInvestor thought that it could go down. 

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether LCX is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never invest money that you cannot afford to lose.

Should I invest in LCX?

This is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Further reading:

 

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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